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Hollywood pension plan signs up for Hudson St.

Hollywood's largest union pension and health plan, The Motion Picture Industry Pension and Health Plans (MPIPHP), has purchased 4,200 s/f at 145 Hudson Street, between Beach and Hubert Streets.

MPIPHP is relocating from its current location at 355 West 52nd Street. Roxanne Betesh, vice president of Sinvin Realty Corp., and exclusive commercial sales agent for the building, represented the seller.

Nicholas Poshkus, senior managing director of Coldwell Banker Commercial Properties, represented the buyer.

"The Pension and Health Plans made a wise choice to invest in the office space they'll be using," says Betesh. "We've already had some buyers in the building resell their unit at a profit, or successfully sublease unused space."

Financial terms of the sale are not being disclosed but asking price was $675 per square foot, for a total of $2.835 million.

Including The Motion Picture Industry Pension and Health Plans, Betesh has closed close to 50,000 s/f of deals at 145 Hudson Street. Buyers include Bach, Gerrard + Tan, Tom Schierlitz, Richard Mishaan, Sugar Ray Properties, Morgik Metal, Abhaya Home Furnishings, Gigantic, Supply & Demand, Rob Millis, Instar Capital, Blue 9 Capital, and DeSimone, Aviles, Shorter and Oxamendi, LLP.
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Title Annotation:LEASES
Publication:Real Estate Weekly
Date:Oct 19, 2005
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